Economics at your fingertips  

Rents and economic development: the perspective of Why Nations Fail

Daron Acemoglu and James A. Robinson ()
Additional contact information
James A. Robinson: University of Chicago

Public Choice, 2019, vol. 181, issue 1, No 3, 13-28

Abstract: Abstract We present the approach to comparative economic development of Why Nations Fail. Economic prosperity requires inclusive economic institutions—those which create broad based incentives and opportunities in society. Extractive economic institutions, which lack these properties, create poverty. Variation in economic institutions is created by differences in political institutions. Inclusive economic institutions are the result of political choices which arise under inclusive political institutions: a strong state and a broad distribution of power in society. When either of these conditions fails one has extractive political institutions that lead to extractive economic institutions. We relate our analysis to Tullock’s notion of ‘rent seeking’.

Keywords: Rents; Institutions; Inclusive; Extractive; Politics (search for similar items in EconPapers)
JEL-codes: D72 D78 O00 O43 (search for similar items in EconPapers)
Date: 2019
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (7) Track citations by RSS feed

Downloads: (external link) Abstract (text/html)
Access to full text is restricted to subscribers.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link:

Ordering information: This journal article can be ordered from
http://www.springer. ... ce/journal/11127/PS2

DOI: 10.1007/s11127-019-00645-z

Access Statistics for this article

Public Choice is currently edited by WIlliam F. Shughart II

More articles in Public Choice from Springer
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().

Page updated 2020-10-14
Handle: RePEc:kap:pubcho:v:181:y:2019:i:1:d:10.1007_s11127-019-00645-z